May 11, 2018 / 1:36 AM / 4 months ago

U.S. fund Elliott seeks $670 million from South Korea over 2015 Samsung merger

SEOUL (Reuters) - U.S. activist fund Elliott is seeking compensation from the South Korean government of no less than $670 million (495.20 million pounds) for damages it sustained from a 2015 merger between Samsung affiliates, according to a letter from the fund’s representative.

The letter seen by Reuters and dated April 13 argued Elliott sustained loss and damage as an investor in one of the companies that merged.

Elliott began a legal dispute with South Korea over the merger earlier this year but had not previously revealed the amount of compensation sought.

Reporting by Joyce Lee and Ju-min Park; Editing by Stephen Coates

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